Orofino, Idaho Property Taxes
The median property tax rate in Orofino, ID is 0.66%, which is lower than the national median of 0.99% but higher than the Idaho state median of 0.50%. With the median home value in Orofino at $209,168, the typical annual property tax bill reaches $1,263, falling below the national median of $2,690. Property taxes in Orofino are calculated based on the tax assessed value, which generally is lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Orofino's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Orofino or another part of Clearwater County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orofino, Idaho Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,381
$1,281
Ownwell’s Orofino Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Orofino with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orofino to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and make informed financial decisions. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by Clearwater County for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Orofino, Idaho
Property taxes in Orofino, Idaho, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Orofino is 0.66%, which is lower than both the Idaho state median and the U.S. national median of 0.99%. Local government entities within Orofino set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orofino estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Orofino's effective property tax rate to other counties in Idaho and the national median. For comparison, the 83544 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these cities compare with Orofino provides valuable insights into the varying tax landscape across Clearwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orofino Tax Rate
0.66%
Average Clearwater County Tax Rate
0.67%
Average Idaho Tax Rate
0.50%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orofino, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83544 | 0.41% | 0.49% | 0.66% | 0.89% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Orofino, Idaho
In Orofino, Idaho, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Clearwater County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Orofino, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Orofino helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 83544 has both the highest and lowest median tax bill at $1,263, reflecting a range of tax burdens within the area.
Average Orofino Assessed Value
$209,168
Average Clearwater County Assessed Value
$173,988
Average Idaho Assessed Value
$374,698
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orofino, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83544 | $27,814 | $77,549 | $209,168 | $311,637 | $417,024 |
Source: Ownwell
Property Tax Bills Across Orofino, Idaho
In Orofino, located in Clearwater County, ID, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For a median home price of $209,168, homeowners can expect varying tax bills depending on their specific circumstances. Property tax bills in Orofino can range significantly. For instance, homeowners in the 25th percentile typically see tax bills around $480, while those in the 75th percentile face bills closer to $2,071. At the higher end, in the 90th percentile, tax bills can reach up to $2,980. The highest median tax bill recorded in the area is $1,263, which is relatively modest compared to the national median property tax rate of 0.99%. These tax bills directly impact homeowners, influencing their annual budgets and long-term financial planning. Understanding how these taxes are calculated helps homeowners anticipate their expenses and manage their finances more effectively.
Average Orofino Tax Bill
$1,263
Average Clearwater County Tax Bill
$1,091
Average Idaho Tax Bill
$1,894
Average United States Tax Bill
$2,690
Property Tax Bills Across Orofino, Idaho
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83544 | $212 | $480 | $1,263 | $2,071 | $2,980 |
Source: Ownwell